EndoSphere Inc. Enhances Board of Directors

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Chairman and two new directors appointed to the company's 5-member board.

EndoSphere Inc., a medical technology company developing a platform of endoscopically implantable devices for the treatment of metabolic diseases, including obesity and type 2 diabetes, today announced the appointment of a chairman and two new members to the company’s board of directors. Christopher Thorne of Broadline Capital was named chairman, while John Huston of Ohio TechAngel Funds and Ajit Thakur of Optimus Services AG were appointed to the board.

“We are extremely pleased to welcome three very distinguished individuals to the board of EndoSphere,” said James McKinley, CEO. “These gentlemen will add significant discipline, experience and expertise to our company’s strategic leadership and governance.”

Christopher Thorne is the founder and managing partner of Broadline Capital, a global private equity investment firm. A former management consultant at McKinsey & Company, Thorne became an early pioneer in China’s private equity industry when he formed Broadline Capital in 2005 to provide capital, expertise and management support to promising companies within China’s highly charged markets. Leading some of the most creative deals in its market categories, Broadline Capital received the private equity industry’s “Deal of the Year” award in Asia, named by Private Equity International for a 2007 China investment. Thorne previously founded and developed a software technology company that created efficiency gains for manufacturers, distributors and retailers in the trillion-dollar food and beverage, consumer packaged goods and retail supply chains. The resulting company managed more than $200 Billion in transactions annually and developed a customer base of more than 5,000 suppliers and 100,000 retail operators globally before the company sold to institutional investors at a nine-figure enterprise valuation in 2007. Thorne received his Juris Doctor from Harvard Law School, Masters in Business Administration from Harvard Business School and a Bachelor of Arts degree (Magna Cum Laude) from Harvard University.

John Huston is the founder and manager of the Ohio TechAngel Funds, one of the nation’s largest angel investment groups. During his 30-year banking career, Huston held positions ranging from CEO to chief lending/chief credit officer at five banks in five states. Since retiring from banking in 2000, he has been an active business angel, investing in over forty Ohio-based technology ventures. Nationally, he has served as chairman of both the Angel Capital Association and the Angel Capital Education Foundation. He received his Masters in Business Administration from Georgia Southern University, which he earned while stationed as a Navy pilot in Georgia. He earned a Bachelor or Arts degree in economics from the University of Virginia.

“Central Ohio is delighted that a company of EndoSphere’s caliber and promise has relocated here,” commented Huston, “I hope to assist in helping this exciting venture optimize its unique approach to the critical problem of obesity.”

Ajit Thakur is the managing director of Optimus Services AG’s North American Operations. Optimus Services is a Swiss-based innovator of operating room design and installation in the global healthcare industry. The company specializes in reducing surgical infection risk, increasing patient safety and increasing daily patient case throughput by enabling full integration of an operating room’s IT, RFID-tagged equipment and sterility components. Previously, Thakur served as the chief operating officer and executive vice president of S&S Industries Inc., where he managed the full P&L of the world’s largest manufacturer of underwire and other products to the intimate apparel and swimwear industries, and oversaw the company’s intellectual property portfolio of more than 20 patents. In the medical device industry, he served as director of medical device venture development for a company within Teledyne Inc., a $4 billion diversified corporation. He also managed the development and commercialization of a new capacitor product for a unit of Cabot Corporation, winning industry recognition for “New Product of the Year” in 2005. Thakur received his Masters in Business Administration from Harvard Business School and Bachelor of Science degree in chemical engineering from IIT in Kanpur, India.

EndoSphere Inc. completed an oversubscribed Series A Preferred Financing in June 2011.

About EndoSphere Inc.

EndoSphere Inc. is a medical technology company founded in 2006. The company holds 23 U.S. and international issued and pending patents. EndoSphere develops and commercializes devices including the SatiSphere™ duodenal insert, which treats one of the most critical healthcare issues in the world today: obesity and its co-morbidities. EndoSphere is a portfolio company of Broadline Capital, a global private equity investment firm. For more information, please visit http://www.EndoSphereInc.com.

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Bryan Kozlowski, Financial Controller
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